![]() ![]() The genealogy of Deloitte Touche Tohmatsu looks much like a large family tree stretching back over 100 years to the rise of the multinational corporation and its need for standardized accounting procedures.Įach of the two predecessor firms to Deloitte & Touche has a long history of growth. Still, the accounting industry as a whole had a long history of mergers and acquisitions over the years more and more partners have become concentrated in a shrinking number of firms. The merger between Touche Ross and Deloitte, Haskins, and Sells was thought by many industry experts to be an unlikely match, given their radically different styles. By 1999, Deloitte Touche Tohmatsu was providing 132 countries worldwide with a host of professional services that included accounting, auditing, and tax services management consulting and financial and tax advice. The Tohmatsu name was added to reflect the business of Tohmatsu Avoiki & Sanwa, Japan's largest audit firm, which was part of Touche Ross at the time of the merger. The two firms were roughly the same size before the merger the newly combined firm could boast of revenues of nearly $5 billion, with such clients as General Motors, Procter & Gamble, Nabisco, Sears Roebuck and Company, and other Fortune 500 companies. The partnership was created as a result of the 1989 merger between two of what were then the "Big Eight" accounting firms-Touche Ross and Deloitte, Haskins, and Sells. Deloitte Touche Tohmatsu International (DTTI) is the fifth-largest accounting and business services firm in the world, and one of the prestigious Big Five accounting firms that dominate public accounting. ![]()
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